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Worked perfectly. I was going nuts trying to figure it out!
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"Afford ferrari with a 100k salary per year..."

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I think so that no you can not afford ferrari with a 100k salary per year. You have to consider the cost of keeping up a car like that and insurance. Check out www.edmunds.com where they will give you the true cost of owning a car like that including maintenance, insurance, etc.
It also sounds like you aren`t a nurse yet from your statement "if I am" which leads me to believe that you haven`t finished or even started school. You have to think that you might have student loans, etc. to pay. Furthermore do you want to live in the Ferrari? What kind of housing could you afford if you buy this car. Is it really worth it? Have you been watching the news on the economy and all the people who are losing their homes and cars for over extending themselves. Not trying to rain on your parade but look for something sporty in your price range you`ll enjoy. I hope so this helps you a lot.

Someone said: the guy above has never made a 100K... i live in Hawaii my mortgage is 3800 a month and my land rover has me at 1490 a month.... add that up and that is more then 55K promised a year above... more like 62K a year.... sit down with a real adviser.

"A 5% interest rate over a 30 year amortization will cost you around 1400..."

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It`s always good to know about your monthly loan payment before you take a loan. This can be known through any mortgage calculator. It can provide you this information. A 100,000 mortgage loan with a 5% interest rate over a 30 year amortization will cost you around 1400 per month. It also depends on how much cash or down payment you are making and also the time periods and rate of interest you are taking the loan. There can br fluctuation made in interest rates and number of years.

With a 680 credit score and a salary of 100,000, you should be able to get preapproved for a mortgage of 400,000 and more. A 100K income is very good and your credit rating is above average so many lenders will be happy to work with you as a client. You might even be able to qualify for a 500,000 mortgage loan if you have sufficient cash saved for a downpayment.

"You can afford such a house if you take..."

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You can afford such a house if you take a loan for it which is long term. Then you can buy a 300000 house and pay the loan back in installments from your 100000. Finding such a loan might be difficult but you can go to your bank and inquire about it.

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